Mtechtips MCX-SX GBPINR INTRADAY trading analysis 25-01-2016

Mtechtips MCX-SX GBPINR INTRADAY trading analysis 25-01-2016

Mtechtips GBPINR remained below the strong resistance 97.52 and after hitting a low of 96.00 settled at 96.60 levels. Buy strategy given above 97.52 was not initiated.   Technically, weekly price action resulted in formation of high wave candle stick which is indicating for indecisive move but a breakdown down below the long term trend line support is yet indicating for bearishness in the pair. Hence any rise towards 98.80-99.00 is expected to attract huge selling activities for the Target 97.50-96.00 in the week. Sell on rise around 98.80-99.00. Target 98.20-97.00. Stop loss above 99.40. LTP (97.0250).

Important factor/data from U.K.

Prelim GDP q/q

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